Hero MotoCorp fell 0.21% to Rs 2706.60 after consolidated net profit fell 5.1% to Rs 926.97 crore on a 16.4% decline in net sales to Rs 7660.27 crore in Q2 September 2019 over Q2 September 2018.
The result was announced after market hours yesterday, 23 October 2019.
On a standalone basis, the auto maker's net profit fell 5.5% to Rs 922.45 crore on a 16.7% fall in net sales to Rs 7570.70 crore in Q2 September 2019 over Q2 September 2018.
The total volumes fell by 20.74% to 16.91 lakh units in Q2 September 2019 as against 21.34 lakh units in Q2 September 2018.
EBITDA fell by 20.15% to Rs 1101 crore in Q2 September 2019 as against an EBITDA of Rs 1379 crore in Q2 September 2018.
EBITDA margin stood at 14.5% in Q2 September 2019 as against 14.4% in Q1 June 2019 and 15.2% in Q2 September 2018.
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Niranjan Gupta, chief financial officer, Hero MotoCorp, said, Our retail sales during the ongoing festive season have been quite steady so far, thanks to the new motorcycles and scooters that we have launched recently, and our slew of innovative schemes for customers. We hope to keep the momentum during the upcoming Dhanteras and Diwali festivals.
''Growth of the industry is driven by first time customers. We have therefore, aggressively pursued this segment of customers through various innovative financing options, both in terms of affordability and convenience. This has helped us to expand our customer base during the ongoing festive season. We are also gearing up for the market launch of our first BS-VI motorcycle soon after the festive season, which will mark the commencement of the sequential transition to our BS-VI range over the next few months," said Sanjay Bhan, head of sales, aftersales and parts, Hero MotoCorp.
Meanwhile, the S&P BSE Sensex was up 144 points or 0.37% to 39202.52.
On the BSE, 13,467 shares were traded in the counter so far compared with average daily volumes of 32,411 shares in the past two weeks. The stock hit a high of Rs 2746.8 and a low of Rs 2670.05 so far during the day.
The stock hit a 52-week high of Rs 3382.7 on 20 Dec 2018. The stock hit a 52-week low of Rs 2228.25 on 31 Jul 2019.
Hero MotoCorp is a motorcycle and scooter manufacturer. The company is the largest two-wheeler manufacturer in the world, and also in India, where it has a market share of about 46% in the two-wheeler category.
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